OX Price Prediction Today: Daily (ZRX) Value Forecast – July 29
- The short is in a downtrend while and medium-term outlook is in a range-bound market.
- Patience is required at this period.
ZRX/USD Medium-term Trend: Ranging
Supply zones: 0.3600, 0.3800, 0.4000
Demand zones: 0.2000, 0.1800, 0.1600
The cryptocurrency medium-term outlook remains in a range-bound market. The rally was brief within the weekend after the hammer formation at $0.2211 on 27th July. $0.2445 was the high while $0.2137 was the low within the range.
Today’s opening 4-hour candle at $0.2274 closed a spinning top, an indication of upward price rejection after a brief high at $0.2325. ZRXUSD fell to $0.2241 beyond the lower range but the candle closed within the range.
Price is below the two EMAs and the signal of the stochastic oscillator is parallel at 44% an indication of the ranging scenario.
ZRXUSD is in consolidation and trading between $0.2500 in the upper supply area and at $0.2200 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.
ZRX/USD Short-term Trend: Bearish
The cryptocurrency is in a bearish trend in the short-term outlook. Today’s session opened on a bullish note at $0.2256. The momentum was short-lived as price rose to $0.2312 been a key supply area. The bears' pressure resulted in the break at the resistance around the two EMAs with a drop initially to $0.2258 and later to $0.2181 in the supply area.
The signal of the stochastic oscillator is pointing down at 58%, an indication of downward momentum though the bearish flag is currently been formed. The bears may stage a returned after the bullish exhaustion in the short-term.
$0.2151 in the demand area is on the card as the bears' journey down south.
Live 0x (ZRX) Price:
1 ZRX/USD =$1.6565 change ~ 7.18%
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.